KOZHIKODE: Senior IUML leader M K Muneer is navigating a difficult phase marked by financial pressure and health concerns, with his ancestral residence in Kozhikode now under the threat of bank attachment.
The property, popularly known as Crescent House in Nadakkavu, was originally built by his father, former CM C H Mohammed Koya. Over the years, the house evolved beyond a family home, serving as a key informal hub for IUML discussions and decision-making in Kozhikode. Its possible attachment has therefore raised concern not only among party workers but also within political circles.
The current crisis stems from a housing loan taken nearly a decade ago from the Kozhikode Town Service Co-operative Bank for renovation work. The loan, initially around Rs 70 lakh, was partially repaid over time. However, delays in structured repayments led to the outstanding amount rising to approximately Rs 58 lakh.
Efforts were made to resolve the issue through a one-time settlement, which reduced the payable amount to about Rs 49 lakh. Despite this concession, Muneer was unable to settle the dues within the stipulated period. With the deadline now lapsed, the bank has reinstated the full liability and issued a final warning: If the amount is not cleared by March 31, recovery including attachment of the property will follow.
In the past, another house owned by Muneer in Jaffer Khan Colony had faced similar financial issues. That was eventually resolved through the sale of the property to repay dues. The recurrence of such issues has triggered wider discussion, especially given Muneer’s long-standing public life as a legislator and minister.
Financial disclosures from the 2021 assembly elections show that Muneer declared assets worth over Rs 4.34 crore, alongside liabilities nearing Rs 92 lakh.
Responding to the developments, Muneer clarified that the financial liability is entirely personal. He stated that it would not be appropriate to seek assistance from the party for private debts, even though several leaders and well-wishers had reached out offering support.